Partner Driven added value by leveraging its strategic market knowledge and efficient transaction process.

When I sold the house 120 days later, I noticed a $14k charge for lender-placed insurance on the closing statement.I reached out to the lender and provided proof of my coverage during the loan period.

Had a renter at full price of rental offering at 2300 within a 7 day period. 12 month lease, no kids, no pets.

And that period kind of soured me on self managing and rentals.

Of the two options, renovation will net you significantly more equity in a short time period.

That is a much more efficient structure for dealing with those issues and I believe is ultimately more cost effective and safeguards the principal parties interest more closely. 

Mitigation Strategy: Cost-efficiency improvements such as energy-saving upgrades or negotiating better service contracts to reduce operating expenses.

It's okay if it takes some time to close.You can make your due diligence period shorter.

Section 1031 has many requirements, 45 day identification period, and a 180 day settlement period (including the 45 days). 

If he opts to buy the property, rent paid during the lease period is applied toward the purchase price.Because owner financing can be complex, we recommend working with a licensed attorney who will consider your best interests when drafting the necessary documents.Good luck!